News
HIVE and MARA increase Bitcoin production but see lower mining revenue in Q3
HIVE Digital Technologies mined 1,070 BTC in the September quarter, up 49% year‑over‑year, while its mining revenue fell 7.4% to $76 million. Marathon Digital Holdings (MARA) produced 2,247 BTC, a 5% increase, but its mining revenue dropped 34% to $159 million. Both companies reported higher electricity costs—HIVE’s rose 20% to $45.6 million and MARA’s to $48.1 million—and recorded equipment write‑downs. HIVE’s HPC hosting revenue grew 71% to $8.8 million, and the firm plans to spend up to $493 million on AI infrastructure over the next 36 months. MARA’s net income rose to $634.4 million, while its quarterly revenue fell 35% to $164.2 million.